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277 hedge funds and large institutions have $1.53B invested in Upwork in 2025 Q1 according to their latest regulatory filings, with 72 funds opening new positions, 78 increasing their positions, 86 reducing their positions, and 46 closing their positions.

New
Increased
Maintained
Reduced
Closed

57% more first-time investments, than exits

New positions opened: 72 | Existing positions closed: 46

9% more funds holding

Funds holding: 253277 (+24)

4.21% more ownership

Funds ownership: 82.32%86.53% (+4.2%)

9% less repeat investments, than reductions

Existing positions increased: 78 | Existing positions reduced: 86

15% less capital invested

Capital invested by funds: $1.8B → $1.53B (-$269M)

35% less call options, than puts

Call options by funds: $14.8M | Put options by funds: $22.8M

56% less funds holding in top 10

Funds holding in top 10: 94 (-5)

Holders
277
Holders Change
+24
Holders Change %
+9.49%
% of All Funds
3.71%
Holding in Top 10
4
Holding in Top 10 Change
-5
Holding in Top 10 Change %
-55.56%
% of All Funds
0.05%
New
72
Increased
78
Reduced
86
Closed
46
Calls
$14.8M
Puts
$22.8M
Net Calls
-$7.95M
Net Calls Change
-$18.5M
Name Holding Trade Value Shares
Change
Change in
Stake
ADL
276
Asset Dedication LLC
California
$222 +$259 +17 New
SAM
277
Smartleaf Asset Management
Massachusetts
$211 +$244 +16 New
Northwestern Mutual Wealth Management
278
Northwestern Mutual Wealth Management
Wisconsin
$13 -$183 -12 -92%
DAM
279
Dorsey Asset Management
Illinois
-$49.8M -3,045,142 Closed
CAM
280
Contour Asset Management
New York
-$24.6M -1,506,610 Closed
HCM
281
Horrell Capital Management
Arkansas
-$8.83M -540,000 Closed
A
282
Atomvest
Hong Kong
-$5.09M -311,016 Closed
F1I
283
Fund 1 Investments
Puerto Rico
-$4.64M -283,740 Closed
ECM
284
Engine Capital Management
New York
-$2.74M -167,321 Closed
LCM
285
Landscape Capital Management
New Jersey
-$2.22M -135,898 Closed
PAMP
286
Polar Asset Management Partners
Ontario, Canada
-$2.01M -123,100 Closed
AG
287
Algert Global
California
-$1.85M -113,112 Closed
HS
288
HighVista Strategies
Massachusetts
-$1.37M -83,600 Closed
IMC Chicago
289
IMC Chicago
Illinois
-$1.18M -77,471 Closed
Vontobel Holding
290
Vontobel Holding
Switzerland
-$1.24M -76,140 Closed
Balyasny Asset Management
291
Balyasny Asset Management
Illinois
-$1.21M -74,092 Closed
Capital Fund Management (CFM)
292
Capital Fund Management (CFM)
France
-$1.18M -72,102 Closed
GCP
293
GSA Capital Partners
United Kingdom
-$1.15M -70,220 Closed
ECM
294
ExodusPoint Capital Management
New York
-$1.13M -68,902 Closed
BCM
295
Bayesian Capital Management
New York
-$1.02M -62,345 Closed
BAM
296
Bosun Asset Management
Illinois
-$884K -54,043 Closed
TI
297
Tidal Investments
Wisconsin
-$669K -40,935 Closed
SCM
298
Semanteon Capital Management
Massachusetts
-$667K -40,801 Closed
WPC
299
Wedmont Private Capital
Pennsylvania
-$544K -34,800 Closed
FRM
300
Fox Run Management
Connecticut
-$497K -30,420 Closed

UPWK Hedge Fund Activity: Q1 2025 in Review

277 of the 7,457 institutional investors tracked by Wall St. Rank reported a position in Upwork (UPWK) for Q1 2025, worth a combined $1.53B — down 15% from $1.8B a quarter earlier.

Buyers outnumbered sellers: 72 funds opened new UPWK positions and 46 closed out — a net gain of 26 holders — while 78 added to existing stakes and 86 trimmed.

The largest buyer was LSV Asset Management, adding an estimated $64M. The largest seller was Dorsey Asset Management, exiting entirely with an estimated $49.8M sold.

  • 277 institutional investors held Upwork (UPWK) as of Q1 2025, up from 253 in Q4 2024.
  • Funds reported $1.53B of Upwork stock for Q1 2025, down 15% quarter-over-quarter.
  • 72 funds opened new Upwork positions in Q1 2025 and 46 closed out, a net change of +26 holders.
  • The largest Upwork buyer in Q1 2025 was LSV Asset Management, an estimated $64M added.
  • The largest Upwork seller in Q1 2025 was Dorsey Asset Management, an estimated $49.8M sold.

Based on aggregated 13F filings for Q1 2025.